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Stryker announces pricing of $600 million senior notes offering

Kalamazoo, Michigan, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Stryker (NYSE:SYK) (the a??Companya??) announced today that it has priced an offering of $600 million aggregate principal amount of its 0.600% Notes due 2023 (the a??Notesa??). Unless previously redeemed pursuant to their terms, the Notes will mature on December 1, 2023. The offering of the Notes is expected to settle on NovemberA 23, 2020, subject to the satisfaction of customary closing conditions.The Company intends to use the net proceeds from the offering for general corporate purposes, which may include payments in connection with the redemption of Wright Medical Group N.V.a??s (a??Wrighta??) convertible debt, which the Company assumed upon completion of the acquisition of Wright.Citigroup Global Markets Inc., BofA Securities, Inc. and Wells Fargo Securities, LLC are acting as active joint book-running managers for the offering. The offering is being made pursuant to a preliminary prospectus supplement, filed today, to the Companya??s prospectus, dated February 7, 2019, filed as part of the Companya??s effective shelf registration statement. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the Notes may be obtained by contacting: Citigroup Global Markets Inc. toll-free at 1-800-831-9146, BofA Securities, Inc. toll-free at 1-800-294-1322 and Wells Fargo Securities, LLC toll-free at 1-800-645-3751 or wfscustomerservice@wellsfargo.com.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Forward-looking statements
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